3/4/2026 at 9:37:56 PM
by mv4
3/5/2026 at 12:42:00 AM
My thoughts:- Did someone really make a VC-backed "Rent-a-swag"?
- Did they also go full Saperstein?
Yep. They did.
by davidee
3/5/2026 at 1:54:30 AM
After dropping BDO as their auditor this CEO just continued signing off in financial statements under BDO's name. The craziest part is her skating through getting caught initially. One investor noticed a falsified date: she told him that those were fake statements made for a university lecture and refunded his investment. Eventually the board caught on and prohibited her from raising more investments, but she just kept selling shares behind their backs. Everyone involved had some financial interest in not making a public fuss.by recursivecaveat
3/5/2026 at 12:46:49 AM
> This included alleged representations that CaaStle earned $66.3 million on revenue of $439.9 million in 2023, when it actually lost $81 million on revenue of $15.7 million.> lawyers said the indictment presented “an incomplete and very distorted picture” “There is much more to this story, and we look forward to telling it,”
I wonder how that'll work out for the founder
by neya
3/4/2026 at 10:16:39 PM
"This included alleged representations that CaaStle earned $66.3 million on revenue of $439.9 million in 2023, when it actually lost $81 million on revenue of $15.7 million." - Seriously, why would someone attempt to pull this? This lie seems really easy to catch. I don't get it?by runamuck
3/4/2026 at 10:21:59 PM
"Fake it til you make it" is near-universal in the space. You just never hear about the ones who do make it.by Bratmon
3/4/2026 at 10:27:12 PM
Do investors do due diligence anymore?by mv4
3/4/2026 at 9:37:56 PM
A prominent entrepreneur who founded the now-bankrupt clothing technology startup CaaStle was criminally charged on Friday with defrauding investors out of more than $300 million, the U.S. Department of Justice said.by mv4
3/4/2026 at 9:52:22 PM
40-under-40. They always are.by xenospn
3/4/2026 at 10:30:15 PM
seems to be the pattern doesn't it.This hedge fund manager did a review on Youtube
by mv4
3/4/2026 at 11:44:32 PM
Federal charges = pardon potential.by burnt-resistor